Bill White removed from daily job at Barclays during probe

BradleyHope

Bloomberg

Barclays PLC has removed a senior member of its equities-trading team from his day-to-day responsibilities in the wake of allegations that his group lied to clients about the operations of its so-called dark pools, according to people familiar with the matter.

Bill White, head of the firm’s Equities Electronic Trading operation, is focusing solely on answering questions related to the lawsuit, according to people familiar with Barclays’ decision. White’s group ran the trading platform known as Barclays LX.

He is being treated as “innocent until proven guilty,” but he won’t be involved in electronic trading until the investigation is complete, the people said.

White wasn’t named directly in the lawsuit filed by the New York Attorney General’s office against Barclays
BARC, -2.10%
, but he is referred to several times in the complaint by title. The lawsuit claims the dark pool favored high-frequency traders and misled clients about this advantage.

White was formerly the head of Barclays’ market-making business at the New York Stock Exchange.

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